Surge Battery Metals Nevada North PFS Outlines $9.81 Billion After-Tax NPV

04:50 PM EDT, 10/02/2026 (MT Newswires) -- Surge Battery Metals (NILI.V) said Friday a pre-feasibility study for its Nevada North Lithium Project in Elko County, Nevada supports a mining project costing $2.77 billion for an initial phase. The company outlined an after-tax net present value of $9.81 billion and an after-tax internal rate of return of 23.6%. The study also estimated an after-tax payback period of 4.2 years from the start of production. Surge owns 67.5% of the project through a joint venture with Evolution Mining, holding the remaining 32.5%.